What’s a good amount to have?

[dusty88]

This is a guy who left the Soviet Union as a kid, worked successfully in the US financial system for years, and now thinks it is at risk. (just to add to KittySlayer's comment on historical perspective). Our fiat currency and financial system are something we take for granted but I'm not so sure we should

[video=youtube;vuH2A2e4Gp4]https://www.youtube.com/watch?v=vuH2A2e4Gp4&feature=youtu.be[/video]

 

[spencer rifle]

Speaking of retirement investments: I always get a little nervous when contributing to my IRA or investment-company emergency fund. If the balloon really does go up, I must make peace with the fact that all that money will be gone forever. And it's not a little. Space (and She Who Must Be Obeyed) don't allow me to convert all the cash to items on hand that I would wish, but I'm working on it. Crappy interest rates are actually helping - I'm not losing that much by keeping cash on hand. May be time to learn a new skill. Reloading? Check. Food production and preservation? Check. Harvesting and preparing wild foods and medicines? Check. Field survival? Check. Might be time to look into distilling - the worse things get, the more demand will go up.

 

[rhino]

Speaking of retirement investments: I always get a little nervous when contributing to my IRA or investment-company emergency fund. If the balloon really does go up, I must make peace with the fact that all that money will be gone forever. And it's not a little. Space (and She Who Must Be Obeyed) don't allow me to convert all the cash to items on hand that I would wish, but I'm working on it. Crappy interest rates are actually helping - I'm not losing that much by keeping cash on hand. May be time to learn a new skill. Reloading? Check. Food production and preservation? Check. Harvesting and preparing wild foods and medicines? Check. Field survival? Check. Might be time to look into distilling - the worse things get, the more demand will go up.

Start buying your SWMBO more gold and diamond jewelry, but don't tell her all of the reasons why.

 

[spencer rifle]

Start buying your SWMBO more gold and diamond jewelry, but don't tell her all of the reasons why.

She's WAY too practical for that. And it would make her suspicious and worried at the same time. Had enough of that when I told her that the only reason I got my MBA class ring was for trade value.

 

[Dorky_D]

FYI JMBullion has free shipping on orders over $100 when you have it withdrawn from your checking account. They are often cheaper than Apmex (especially with free shipping). I have a certain amount that I have going into an account. Once it reaches $100 or more, I place an order.

 

[Dentoro]

I heard having 250 ounces per person per year should be sufficient. So you for a three year crisis would be 750 ounces. Double that for a wife triple that for an added kid. That being said, I've been stacking for years and have no where near that. And if we have a crisis for three years, well...the S has hit the F. Now one thing thing to consider is silver is selling about 60 to 1 on gold. Historically is 15-1. Though silver is more available from the ground, 3/4 of all silver above ground have been used. What happens when mined silver reaches same level as mined gold? I don't know, but I'll bet there is more upside to silver than gold.

 

[luger fan]

I heard having 250 ounces per person per year should be sufficient. So you for a three year crisis would be 750 ounces. Double that for a wife triple that for an added kid. That being said, I've been stacking for years and have no where near that. And if we have a crisis for three years, well...the S has hit the F. Now one thing thing to consider is silver is selling about 60 to 1 on gold. Historically is 15-1. Though silver is more available from the ground, 3/4 of all silver above ground have been used. What happens when mined silver reaches same level as mined gold? I don't know, but I'll bet there is more upside to silver than gold.

250 ounces? That is a 'bit tall' for this cowboy. At $1340+ a ounce that's $335,000. I do own and continue to buy gold and silver but I am small potatoes.

Firearms, ammo, food, water, cash, gold and silver. That will allow you to sleep LOTS sounder.

 

[Wolfhound]

250 ounces? That is a 'bit tall' for this cowboy. At $1340+ a ounce that's $335,000. I do own and continue to buy gold and silver but I am small potatoes.

Firearms, ammo, food, water, cash, gold and silver. That will allow you to sleep LOTS sounder.

I could be mistaken but I think he is talking silver and not gold for the 250 ounces a year. Less than 4k per year at today's prices.

 

[OutdoorDad]

She's WAY too practical for that. And it would make her suspicious and worried at the same time. Had enough of that when I told her that the only reason I got my MBA class ring was for trade value.

Diverification is key.

Buy jewlery for your girlfriends as well.

 

[Dentoro]

250 ounces? That is a 'bit tall' for this cowboy. At $1340+ a ounce that's $335,000. I do own and continue to buy gold and silver but I am small potatoes.

Firearms, ammo, food, water, cash, gold and silver. That will allow you to sleep LOTS sounder.

Yes, Silver for crying out loud! Unless you happen to be a king or fed banker!

 

[Dentoro]

Bullets and food might be better currency.

I would never sell ammo in SHTF. Probably be used on me. Food goes bad. Good and silver are NOT currency. They are money.

 

[actaeon277]

I would never sell ammo in SHTF. Probably be used on me. Food goes bad. Good and silver are NOT currency. They are money.

If you have no food, it suddenly becomes very important.

 

[teddy12b]

Precious metals have their place in looking long term at preparedness.

Truth is that our current currency of USD has been manipulated to the point that we don't really even understand what the current buying power of USD to ounce of (gold/silver/whatever) should actually be. I remember reading something about the cost of the average house being purchased before the Federal Reserve was created and it was around 100 ounces of silver. So before we started printing money and getting away from the gold backed currency 100 ounces of silver bought the average guy a house. If the USD ever crashes, I like the idea of having at least 100 ounces as a starting point, and like most things a little more certainly can't hurt.

Look at the historic ratio of gold & silver pricing and you'll see that it's way out of balance. Look at Russia and China buying up gold/silver precious metals in general and you'll get the reality check that precious metals do hold a historic value that is worthy of investigating if it's right for you. Look at other nations that are looking for ways to not be tied to the USD because every time they strike a deal with the US the Fed prints more money devaluing what they get paid. I really doubt the USD continues to exist indefinitely on it's current path of being a fiat currency. Economics brought down Rome, and nothing man makes will last forever.

I listened to a wise old man once talk about how every paycheck while he was in the Navy he would go buy a silver coin. When he was in his final years he handed each of his boys a shoe box that the feds didn't know about and that didn't see the light of day regarding taxes or any government supported theft. There's something to be said for that.

If you remove the emotion from the question and think purely practically most of the guys here have more guns then they'd ever need during a SHTF situation and could easily sell one or more to reinforce weakpoints in training, comms, precious metals, misc skills or whatever. The old knee jerk response types of "My only precious metals are brass and lead" types just show a complete lack of understanding and maturity when looking at the situation our nation is in. Only goes to show the sheep inside the prepper movement.

 

[jinks]

Precious metals have their place in looking long term at preparedness.

Truth is that our current currency of USD has been manipulated to the point that we don't really even understand what the current buying power of USD to ounce of (gold/silver/whatever) should actually be. I remember reading something about the cost of the average house being purchased before the Federal Reserve was created and it was around 100 ounces of silver. So before we started printing money and getting away from the gold backed currency 100 ounces of silver bought the average guy a house. If the USD ever crashes, I like the idea of having at least 100 ounces as a starting point, and like most things a little more certainly can't hurt.

In 1913 (the year the Federal Reserve was established), a dollar contained .7734 oz of silver and the $10 gold Eagle contained .4838 oz of gold. Today the silver in a silver dollar is worth about $13 and the $10 Eagle gold content is worth about $648.

In 1913 the average cost for house was $3,200, but the average single family house was much smaller than today's average and it often lacked electricity and indoor pluming. Today the average house is over $180,000.

 

[spencer rifle]

Historically I see it in how much a really good new suit costs. In Civil War times about the best suit you could buy cost a $20 gold piece (about 1 oz.). Nowadays a really good suit will cost about as much as that $20 gold piece is worth now.

 

[Dentoro]

You prep for bad times.
You prep and put food back.
You prep mentally.
You prep physically.
You prep spirituality.
You prep and learn skills.
Why on earth would you prep financially too?
Gold and silver are good for resecessions, depressions and are a deterrent to many evils like werewolfs!

 

[DefeatingPropaganda]

Several people have mentioned AMEX. I have found JMBullion dot com to always have better prices. Just throwing my 2 cents out there. Never had an issue with an order from them either. Go to their "sale" tab and you can almost always buy silver for just over spot.

 

[teddy12b]

Several people have mentioned AMEX. I have found JMBullion dot com to always have better prices. Just throwing my 2 cents out there. Never had an issue with an order from them either. Go to their "sale" tab and you can almost always buy silver for just over spot.

I've been on JM Bullion and other websites as well. I think depending on what you're buying in whatever quantity you should go with whatever site has the best deal. For me, I'll load up carts on both websites with the same amount of the same material and whoever has the lowest cost shipped to my door with taxes wins. For me, that's usually APMEX.

 

[snorko]

Provident Metals has good prices and sometimes great prices on sales. Shipping is free for orders over $100.

 

[draftsman]

Junk silver (previously circulated coins) can be purchased at the daily silver spot price. There is usually a different premium (markup) for rounds/bars vs eagles. I've been to a shop where 1 oz silver rounds/bars were a dollar more spot value.

Silver Coin Melt Values with Live Silver Prices - Coinflation